Taro shares to trade on NYSE

HAWTHORNE, N.Y. — Taro Pharmaceutical Industries will list its shares on the New York Stock Exchange, the Israel-based generic drug maker said Monday.

Starting Thursday, shares of Taro will trade on the exchange under the ticker symbol "TARO" and will concurrently cease to trade on the over-the-counter Pink Sheet markets.

"We are very happy that Taro will soon be listed on the New York Stock Exchange," Taro chairman Dilip Shanghvi said. "This achievement is in line with what we indicated in the past, that Taro would seek re-listing on an exchange once the company is in compliance with its [Securities and Exchange Commission] filing commitments. We are pleased that over the past 18 months, Taro has completed its long-pending audited financial statements and attained full compliance with its SEC reporting obligations, both of which are prerequisites for listing."

Shares of Taro were at $35.36 Monday, down 3.12% from the previous closing price of $36.50.